World Bank commends Ghana’s economic turnaround

The Managing Director and Chief Knowledge Officer of the World Bank, Paschal Donohoe, has praised the remarkable progress Ghana has made in stabilising its economy at a meeting with Finance Minister, Dr Cassiel Ato Forson, in Accra.

He commended the government’s stewardship of the economy, saying it is a “remarkable improvement in Ghana’s national finances.” 

Policy focus

Mr Donohoe also expressed appreciation to the government for its strong policy focus on young people and job creation.

“I can see and appreciate your focus on youth development,” he said, adding that the World Bank strongly supported Ghana’s emphasis on employment as the next phase of economic transformation.

Mr Donohoe further described Ghana as an “anchor of stability for the region,” expressing confidence in the country’s economic leadership.

“The economy is in very safe hands,” Mr Donohoe added, with an assurance that the World Bank “is ever ready to support” Ghana as it continues with its reforms and development agenda.

Reset agenda

For his part, Dr Forson said that in the past year, the country focused on resetting the economy and placing it firmly on a path of sustainability.

He said that while significant progress had been made, unemployment remained a major challenge, particularly given Africa’s rapidly growing youthful population.

The minister further said that the government was putting in place major policies and programmes aimed at creating sustainable jobs, recognising that public sector employment alone could not absorb the continent’s expanding youth population.